0
Can a security or bond pledged be sold by the lender without recourse to the borrower?
Wiki User
∙ 13y ago
Yes.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What is the difference between mortgage and pledge?
The differences between a mortgage and a pledge:1. The Security in Mortgaged is an immovable property, while in a pledge it is a movable property.2. In a pledge the ownership of the pledged property remains with the debtor (the pledgor or borrower). In a mortgage, the ownership of the mortgaged property is transfered to the creditor (banker or mortgagee).3. Delivery of the property is essential to a pledge; hence the goods delivered by the pledgor or borrower will be in the custody of the banker. But, in a mortgage, the possession of the property will be with the borrower.4. In a pledge, the banker (pledgee) can sell the pledged property without the intervention of the Court. In a mortgage, except in English mortgage, a mortgagee can sell the property only with the permission of the Court.5. A pledgee does not have the right of foreclousure (i.e. cannot debar the pledgor or the borrower from taking or redeeming the pledged property). But, in a mortgage, a mortgagee (borrower) has the right of foreclousre, i.e., can debar the borrower from taking back the mortgaged property under certain circumstances.M.J.SUBRAMANYAM, XCHANGING, BANGALORE
Can a co borrower sell car without borrower consent?
no
Is there any recourse a cosigner has against the borrower of a defaulted loan?
No, there is no legal recourse that i know of, but I do know of a way to help yourself if the loans are Federally Guaranteed student loans. Have the borrower consolidate the loans without you being a cosigner. Then, the previous loans will be paid off, and a new loan will be made. If you need help getting the defaulted loans consolidated, contact Default Management Services. Google the company name for a phone #. Ask for Doug, he is very knowledgeable.
Can a cosigner take the car away from the borrower without permission from the borrower By towing it or using the second key to take the vehicle?
A co-signer is not an owner of the car. As such, the co-signer cannot take the car away from the borrower without the borrower's permission.
Without recourse is what type of endorsement?
stating that the person who try to cash it, the person that it is giving to who is unable collect on it.cannot go after the party that endorse it without recourse.
What are the attributes of good securities for a loan?
Security is not the primary source of insurance lending instititutions use when giving out credit. Credit is advanced to a borrower firstly based on the soundness of the investment in which the money is being put and the capability of the borrower to execute or implement the investment plan /project and his willingness to meet his obligations. these should be the primary source of security, however lending institutions need a fall back plan in the event that the borrower fails to execute the plan. this is were security comes into play. the lending institution will liquidate the security when the borrower defaults. the following are the attributes of a good security: 1. Easy to Value: The market value of the security should be easy to determine in the market. the value of house provided as security should be easily determined. further the value of the security should be stable over the period and not fluctuate. 2. Easy to Realise: the security should also be marketable or easily to sale. the lending institution should be able to dispose of the security without incurring additional cost. the security should also be easy to liquidate, concert to cash in little time without loss of value. 3. Easy to take: a good security should enable the lending institution to acquire an interest or charge over it without delay and additional costs. there should be no legal encumbrances , disputes on the security. the tile deed or ownership of the security should be in favour of the borrower and there should be no outstanding dispute over it. Other components of easy to take should be ease to own legal or take physically.
Is there a way to get a car loan without a job or co-borrower?
Yes. Deposit the amount of money the car costs in a bank, in a CD, and use it as security for the loan that the bank will give you to buy the car.
Do all banks refuse to cash a check stamped without recourse?
no
How do you remove someone as a co-borrower on a mortgage?
Refinance the lending agreement without the person's being a participant.
Can a co-borrower of a car loan sign a pay agreement with a new car dealership to trade in the vehicle without the borrower's signature?
Nope, no way, abolutely not.
Can mortgagee enforce mortgage when the borrower mortgaged a 20-year leasehold right to obtain the loan when the loan remains unpaid and the lease has expired?
Yes. Usually a mortgagee is required to foreclose not only the owner's rights, but also anyone else with a "junior lien". A leasehold mortgage is typically subordinate, but there are times it can "prime" a first mortgage, so without more facts that's the best we can do.AnswerGenerally, if the borrower has only a leasehold interest and the security interest is the leasehold interest the fee owner must consent to the mortgage. If the fee owner did not consent the lender would need to pursue the borrower for payment. The security interest has disappeared but the debt has not. The borrower signed the note and mortgage promising to pay. The borrower should consult with an attorney who can review the situation and determine the options, rights and obligations.
Is borrowing a horse without permission the same as stealing?
There is no such thing as borrowing without permission. Borrowing requires that the borrower have permission.
